Multi-Tenant Office
For Sale
$1,300,000
355 1st St NW, Cleveland, TN 37311
Approximate 8,000 SF office property with numerous individual suites and flexible floor plans for multiple tenants.
Property Size8,000 SF
Price / SF$162.50
Days on Market133
Property Features for 355 1st St NW
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Office
Building Details
Building Size
8,000 SF
Year Built
1935
Tenancy
Multi
Listing Agency:
Bridge Real Estate Group
Listed By:
Laura Coleman · License #358137
(423) 479-8721
Source:
Gracefrankgroup
Added: Jun 17
Changed: Oct 25
Last Checked: Oct 27 at 1:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bridge Real Estate Group
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Investment Insights
Based on property information with market context.
This approximately 8,000 SF multi-tenant office property offers numerous individual office suites and flexible floor plans suitable for professional office uses. The building is positioned to support a range of tenant configurations within the existing suite layout.
The property is located just steps from Downtown Cleveland and is adjacent to a neighborhood park. It is surrounded by established businesses, providing a walkable setting with access to downtown amenities.
For investors or owner-users, the current rent roll is approximately $4,250 per month, with additional leasing opportunities noted in the marketing materials.
The property is located just steps from Downtown Cleveland and is adjacent to a neighborhood park. It is surrounded by established businesses, providing a walkable setting with access to downtown amenities.
For investors or owner-users, the current rent roll is approximately $4,250 per month, with additional leasing opportunities noted in the marketing materials.
Key Highlights
- Approx. 8,000 SF multi‑tenant office building in downtown Cleveland, TN
- Numerous individual office suites with flexible floor plans for multiple tenants
- Current rent roll is approx. $4,250/month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,560
Cap Rate
6.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,771,200
$1.8M
Cap Rate 7%
$1,265,143
$1.3M
Cap Rate 9%
$984,000
$984.0K
Market Conditions
NOI Build-Up for 8,000 SF
Gross rent
$144.0K $18.00/SF
− Vacancy
−$25.9K −$3.24/SF
EGI
$118.1K $14.76/SF
− OpEx
−$29.5K −$3.69/SF
NOI
$88.6K $11.07/SF
Area
Bradley County, TN
Vacancy
18.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,771,200
Cap Rate 7%
$1,265,143
Cap Rate 9%
$984,000
Alternative Uses
Best Use
Office B
$1.27M
$1.11M – $1.48M
NOI $88,560 @ 7.0% cap · market cap 6.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,504 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,230
Businesses Nearby
Explore this area
Business Placement
Demographics for 37311, TN
29,687
Population
12,942
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
83%
High-School Grad
50.1 sq mi
ZIP Area
593
Density / Sq Mi
$46,827
Median Household Income
$28,839
Median Earnings
$890
Median Rent
$205,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Approximate 8,000 SF office property with numerous individual suites and flexible floor plans for multiple tenants.
Where is this office building located?
The property is located at 355 1st St NW Cleveland, TN.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Approx. 8,000 SF multi‑tenant office building in downtown Cleveland, TN; Numerous individual office suites with flexible floor plans for multiple tenants; Current rent roll is approx. $4,250/month
